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chapter 7
chapter 7 credit
Term | Definition |
---|---|
credit card | card authorizing purchases on credit |
charge account | an existing line of credit at a business that issued it |
account statement | a blank statement that shows status of your account |
finance charge | interest changed by a credit card or charge account company for not paying on time |
unpaid-balance method | computing the finance charge on a credit account based on the portion of the previous monthly balance you have not paid |
average daily balance method | computing the finance charge on a credit account based on the average balance at the end of each day of billing period |